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The Australian Journal of Mathematical Analysis and Applications
ISSN 1449-5910 |
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Paper Title:
A New Property of General Means of Order p with an Application to the Theory of Economic Growth
Author(s):
Olivier de La Grandville
Department of Management Science and Engineering,
Huang Engineering Center, Stanford University,
475 Via Ortega, Stanford, California 94305
U.S.A.
Abstract:
The purpose of this note is to demonstrate a new property of the
general mean of order p of m ordered positive numbers
.
If p < 0 and if
,
the elasticity of
with
respect to xm, defined by
,
tends towards zero, and therefore
.
This property is then applied to optimal growth theory.
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